Wayzata company purchases Renters Warehouse franchise

A Wayzata-based equity investment firm has announced the acquisition of Renters Warehouse.

Northern Pacific Group finalized the agreement on Sept. 17 with the single-family rental property management company.

St. Cloud Renters Warehouse franchise owner, President and Chief Executive Barry Kukowski said the acquisition will provide Renters Warehouse the ability to expand its market, both locally and across the nation.

“This has a lot of opportunities for us,” Kukowski said.

Kukowski has about 200 St. Cloud-area houses under his management from the Renters Warehouse located at 26-32nd Ave. S. He has hopes to increase that number to 300 by the end of the year because of the acquisition, and estimates expanding the number of rentals to 1,000 in about five years. Kukowski said with the acquisition he may be able to expand his territory from strictly St. Cloud to Central and northern Minnesota.

Northern Pacific Group will use national advertising, Kukowski said. “And that will be a way to make Renters Warehouse more of a household name,” he said.

In a statement, managing partner of Northern Pacific Group Scott Honour said he is excited to work with Renters Warehouse and continue to serve the customers in the growing rental industry.

“Our group is thrilled to be investing in this dynamic and growing industry leader. Renters Warehouse has successfully professionalized an industry that is ripe for growth and consolidation,” Honour said.

Renters Warehouse founder Brenton Hayden will still have a minority ownership in the company and will now serve as the chairman emeritus on the Renters Warehouse board of directors.